So I guess Duke would get the Taxslayer Bowl in the Scenario while UNC got the Belk Bowl.
This year you'd probably see:
Clemson in a playoff game (if still undefeated)
FSU probably getting a spot in one of the other New Year's 6 bowl games - either the Peach or Fiesta Bowl this year.
If Notre Dame finishes high enough that it gets a New Year's 6 bowl - at the moment it would - then it probably also takes one of those games (Peach or Fiesta). If it doesn't, then it gets a spot in one of the ACC bowls.
Then the Russell Athletics Bowl takes the next highest ACC team. So this would be where the higher ranked out of presumably UNC and Duke (or if it somehow gets back into the rankings by wining out, Pitt) would end up...unless Notre Dame fell out of New Years 6 bowl range, then they would probably invite Notre Dame.
Then it falls to a "Pool 1" of ACC bowls - the Music City/Taxslayer Bowl (which each switch off which one picks an ACC team and which one picks a Big 10 team each year), the Belk Bowl, Pinstripe Bowl, and Sun Bowl. "Pool 1" bowls in the ACC work that the 4 bowls have a drawing each year to determine the order they're selecting ACC teams. So as things are at the moment - presuming Pitt didn't climb back into the rankings next week - likely the lower ranked out of UNC and Duke would get selected by whichever bowl "won" the drawing (although 3 more ACC teams would also be on the table...right now it'd be Pitt, NCST, and maybe Louisville).
(And a worsening record by Notre Dame could make them fall into any ACC Bowl game, pushing the other ACC teams back:
If they fall to the Russell Athletics Bowl, then likely the "Pool 1" bowl that wins the drawing takes the higher ranked out of UNC/Duke while the loser fell to the the bowl of the four that drew the 2nd selection.
If Notre Dame fell further than that, than the Russell Athletics Bowl likely takes the higher ranked out of UNC and Duke, the "Pool 1" bowl that draws first selection takes Notre Dame, and the "Pool 1" bowl drawing second selection takes the lower ranked out to Duke and UNC.)